14 Aug 2020
Establishment of a state-owned hospital holding company led by PT Pertamina Bina Medika IHC (“PBM”)
Partners Putu Suryastuti and Mohammad Renaldi Zulkarnain from Assegaf Hamzah & Partners acted for the controlling shareholders of seven state-owned hospitals, namely PT Krakatau Steel (Persero) Tbk., PT Pelabuhan Indonesia II (Persero), PT Pelabuhan Indonesia III (Persero), PT Perkebunan Nusantara X, PT Perkebunan Nusantara XI, PT Perkebunan Nusantara XII, and PT Timah Tbk., in the second phase of the establishment of a state-owned hospital holding company, led by PT Pertamina Bina Medika IHC (“PBM”). The transaction resulted in PBM becoming the new controller of the seven hospitals by holding approximately 67% shares in each hospital. This second phase was closed on 7 August 2020.